euro adhoc: Curanum AG / Quarterly or Semiannual Financial Statements / Q3 EBIT rises by 60% (E)

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In the third quarter of 2004 CURANUM AG, Munich, specialized in the operation of residential and care centers for senior citizens, increased its earnings before interest, tax, depreciation, amortization and extraordinary results (EBITDA) from € 2.5 million to € 3.8 million (+ 53%), while earnings before interest, tax, depreciation and extraordinary earnings (EBIT) were up by 60 % to € 3.0 million (previous year: € 1.8 million). The extraordinary result of € -1.5 million was due to the value adjustment on receivables from the former subsidiary Curanum Bonifatius AT. In spite of this, earnings after tax rose from € 0.5 million to € 1.3 million (+160%). In the third quarter, total sales increased by 8.4% to € 47.4 million (previous year: € 43.7 million).

In the nine month period from January 1 to September 30, 2004 pre-tax earnings rose from € 2.5 million to € 3.6 million (+ 42 %), while total sales moved ahead by 8.5% to € 137.8 million (previous year: € 127.1 million). EBITDA (before extraordinary results) improved from € 7.5 million to € 9.4 million, and EBIT (before extraordinary results) rose to € 7.2 million (previous year: € 5.8 million). As of September 30 of the ongoing business year earnings per share stood at € 0.12 (previous year: 0.08).

In connection with the gradual firming of private consumption and the brightening of the employment markets at the beginning of the new year, the Management Board anticipates a slight increase in the demand for care places. With regard to the 2004 business year, the Management Board expects to exceed the planned key operating figures.

Munich, November 8, 2004

The Management Board

Further inquiry note:
Bernd Rothe
Tel.: +49 (0)89 242065-60

emitter: Curanum AG Maximilianstr. 35c D-80539 München phone: +49 (0)89 242065 60 FAX: +49 (0) 89 242065 10 mail: WWW: ISIN: DE0005240709

end of announcement euro adhoc


sector: Healthcare Providers language: English